France at Risk of Being "Strangulated by Interest Rates", Central Bank Governor Alert
7 Articles
7 Articles
The euro continues to weaken due to concerns about high French debt and political uncertainty in Europe. The common European currency is near a 17-month low against the US dollar. Nervousness is also spilling over to the Czech Republic. The dollar was worth 21.73 crowns on Tuesday morning, 17 haller more than five trading days ago, and the Czech currency is the weakest against it since last June.
"There is a risk that we will be gradually stifled by the rise in interest rates," said Emmanuel Moulin, in line with recent warnings he has issued about the lack of sustainability of the public accounts of the second largest European economy.
The Governor of the Central Bank of France, Emmanuel Mulan, warned that his country might be "suffocated by interest rates" that would raise the cost of debt, stressing the need to reduce the deficit of the public budget.
Governor Emmanuel Moulin calls for approval of the budget presented to reduce expenditure and deficit, thus reassuring the markets, because the risk of not acting is very high
According to Emmanuel Moulin, France still has the means to adjust its economy despite the worrying market movements of recent days.
The Governor of the Bank of France warns of a gradual strangulation of public finances by rising rates. At the opening of the budget battle, the former Secretary-General of the Elysée calls for a reduction of expenditure and deficit, without relying on immediate help from the ECB.
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